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  1. #1
    Forum Regular สมาชิกประจำ Essex boys's Avatar
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    Default Uk pension taxed abroad?

    Hi gents, during a quiet spell in work last night my workmates was looking at tax payable on the state pension, it said that if you were not a uk resident then you would not be taxed,but you could be taxed by the country that you were resident in. We got busy again so didn't have time to read much further, do any of you guys living in Thailand get taxed on your state pension by either the uk or Thai government? If you are taxed by the Thai government how much is that tax rate....
    i can't imagine the Thai government giving up an opportunity to tax a foreigner, but I have never heard anyone say they are or are not taxed by the Thai government.
    many thanks in advance for your replys.
    essexboys

  2. #2

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    Your state pension is not taxed in the UK income is after 1000k interest on savings, personal allowance is over 11k now. Not taxed in Thailand.

  3. #3
    Forum Regular สมาชิกประจำ Essex boys's Avatar
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    Default

    Thanks for the info banporman, im surprised that the Thai government doesn't tax you, but good news anyhow. I think my personal allowance is £11,850 before I pay tax , wanted to do a draw down pension from my work pension scheme but I'm keen to keep it below the tax threshold if possible.
    essexboys

  4. #4

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    it;s going to be 12k allowance by 2020, not so long ago it was a mere 6, so they have done well there.

  5. #5
    Forum Regular สมาชิกประจำ Sammy Shrimper's Avatar
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    Default

    Don't forget the tax man will add your state pension on to your company/private pension which would most probably take you into the tax bracket
    Get busy living or get busy dying

  6. #6

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    Tax is taken off the other pensions ie local authority

  7. #7
    Premium Member sisaket's Avatar
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    Default

    Essex boys.
    Have you looked into Tax Free Lump Sum up to 25% of your pension if its your personal pension and are over 55 Yrs. You can keep the rest of the monies in the pension which will be crystalised IE wont be able to have tax free lump sums but can have regular or ad-hock payments which will be subject to tax at your rate.
    Basically you can still be working paying tax but have a tax free lump sum, if you contribute to your pension make sure to check how much you can still put in, sometimes have restrictions IE £4,000-00 per tax year depending on circumstances, worth checking out, your pension administrator should be able to point you in the correct direction.
    This is some Work or Private pensions, not state pension.

    - - - - - - - u p d a t e d - - - - - - -

    Quote Originally Posted by banporman View Post
    it;s going to be 12k allowance by 2020, not so long ago it was a mere 6, so they have done well there.
    Dont forget you can now have 10% of your spouse / civil partners Marriage allowance added you your Tax Code IE £1,190 this takes £11,850 to £13,040 before tax, Mrs signed hers over a few tax years ago.
    bangkok mags

  8. #8
    Member สมาชิก Strawman's Avatar
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    Default

    Sisaket thats answer is not right

    "Have you looked into Tax Free Lump Sum up to 25% of your pension if its your personal pension and are over 55 Yrs. You can keep the rest of the monies in the pension which will be crystalised IE wont be able to have tax free lump sums but can have regular or ad-hock payments which will be subject to tax at your rate."

    It may be the way you've worded it accidentally

  9. #9
    Premium Member sisaket's Avatar
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    Quote Originally Posted by Strawman View Post
    Sisaket thats answer is not right

    "Have you looked into Tax Free Lump Sum up to 25% of your pension if its your personal pension and are over 55 Yrs. You can keep the rest of the monies in the pension which will be crystalised IE wont be able to have tax free lump sums but can have regular or ad-hock payments which will be subject to tax at your rate."

    It may be the way you've worded it accidentally
    What part is not correct ? , plus He would need to look it to it a it will be down to his individual circumstances...
    bangkok mags

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